USDJPY Analysis
| Performance after Wednesday | |||
| Period | Pct | Chg | Momentum |
| Wednesday | -0.27% | -44.0 Pips | ▼ |
| Week to-date | -0.01% | -2.0 Pips | ▼ |
| July | 0.79% | 128.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Thu 08:30 PM | USD | HIGH | PCE Price Index, excluding food and energy (1-mth) |
| Fri 07:30 AM | JPY | HIGH | Tokyo CPI (Inflation Rate) (12-mth) |
| Fri 07:30 AM | JPY | HIGH | Tokyo CPI excluding fresh food and energy (12-mth) |
| Fri 11:00 AM | JPY | HIGH | Bank of Japan Short-Term Policy Interest Rate |
What can we expect from USDJPY today?
USDJPY closed at 163.38000 on Tuesday, marking a daily decline of 0.27%. The pair’s outlook for Wednesday remains bearish, with the price currently above the 9-day EMA and the stochastic indicator rising in the overbought zone.
📈 Bull Scenario If USDJPY manages to break above the daily pivot of 163.5, it could test the first resistance level at 163.78. A sustained move beyond this point might lead to further gains towards the second resistance level at 164.18. Traders should watch for any bullish momentum that could be triggered by these technical levels. | 📉 Bear Scenario On the downside, a move below the daily low of 163.22000 could signal further weakness, targeting the first support level at 163.1. Should bearish pressure persist, the pair might test the second support level at 162.82. The overall bearish daily outlook suggests that these support levels could be key areas to watch for potential price reversals. |
Key levels to watch out:
| R3 | 164.46 |
| R2 | 164.18 |
| R1 | 163.78 |
| Daily Pivot | 163.5 |
| S1 | 163.1 |
| S2 | 162.82 |
| S3 | 162.42 |